HDFC Bank launches rural financial literacy initiative in Kerala

New Delhi: HDFC Bank Ltd has launched its rural financial literacy initiative in the village of Palakkad Marutha Road, in Kerala, under the aegis of the Reserve Bank of India (RBI).

HDFC Bank will conduct financial literacy camps in 39 rural and semi-urban branches across Kerala. As per instructions from the RBI, these branches will serve the Malampuzha block in Palakkad district and the Mathilakam block in Trichur district of Kerala. The camps will enable both adults and school children from 234 Panchayath wards in 26 villages to attain a conceptual understanding of financial products and services.

This initiative is in line with the RBI's recent circular which recommended that banks should scale up financial literacy efforts in rural areas through their branch networks.

HDFC Bank will use the Financial Literacy Guide, provided by the RBI as the standard curriculum while conducting these camps. This material is currently available in Hindi and English.

HDFC Bank has gone a step further in Kerala and is the first bank to translate the guide into Malayalam, which is the local language. This has been done in consultation with the RBI and will greatly increase the impact and efficacy of these camps in Kerala will allow the participants to understand the material in the language they are most comfortable with.